Which owners and officers of an FHA- approved lender must be reported to FHA?

A Supervised, Nonsupervised, or Investing Mortgagee must identify all Principal Owners.  A Principal Owner is any individual or Entity meeting the following thresholds or roles for the applicable business form:

    Publicly Traded Corporation – 10% or more ownership

    Private or Close Corporation – 25% or more ownership

    Limited Liability Company – All Members

    Partnerships – All Partners

The Mortgagee must identify all Corporate Officers who will be directly involved in managing, overseeing, or conducting FHA business.  The Mortgagee must also identify the Officer in Charge, which is the Corporate Officer designated to manage and direct the Mortgagee’s FHA Operations.

NONSUPERVISED & INVESTING MORTGAGEES

A Corporate Officer is a natural person who serves as one of the following positions for a Nonsupervised or Investing Mortgagee:

• Owner;

• President;

• Vice President;

• Chief Operating Officer (COO);

• Chief Financial Officer (CFO);

• Director;

• Corporate Secretary;

• Chief Executive Officer (CEO);

• General Counsel;

• Chairman of the Board;

• General Partner; or

• Member or manager of an LLC.

SUPERVISED & GOVERNMENT MORTGAGEES

A Corporate Officer is a natural person who serves as one of the following positions for a Supervised or Government Mortgagee:

• President;

• Vice President in charge of managing or overseeing any aspect of the Mortgagee’s FHA business;

• Chief Operating Officer (COO);

• Chief Financial Officer (CFO);

• Director;

• Corporate Secretary;

• Chief Executive Officer (CEO);

• General Counsel;

• Chairman of the Board;

• General Partner; or

• Specifically designated staff member(s) of a Government Mortgagee.

For additional information see Handbook 4000.1 I.A.3.c.iv.(A)-(B) available at http://portal.hud.gov/hudportal/HUD?src=/program_offices/administration/hudclips/handbooks/hsgh.